NU Online News Service, March 14, 11:58 p.m. EST
The insurance industry is just beginning to grasp the consequences following the massive earthquake and tsunami in Japan late last week, with one catastrophe modeler estimating insured property losses at $35 billion.
Some smaller reinsurers "may suffer outsized losses relative to their capital positions," according to Standard & Poor's MartketScope Advisor. Claims from the earthquake are "likely to set new records."
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